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Future Enterprises standalone net profit rises 615.37% in the June 2016 quarter

Future Enterprises standalone net profit rises 615.37% in the June 2016 quarter

Sep 14,2016

Net profit of Future Enterprises rose 615.37% to Rs 315.48 crore in the quarter ended June 2016 as against Rs 44.10 crore during the previous quarter ended June 2015. Sales declined 67.64% to Rs 921.19 crore in the quarter ended June 2016 as against Rs 2846.84 crore during the previous quarter ended June 2015.

ParticularsQuarter Ended
n++Jun. 2016Jun. 2015% Var.
Sales921.192846.84-68
OPM %24.969.91-
PBDT295.07184.1360
PBT142.3249.92185
NP315.4844.10615

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Brahmaputra Infrastructure to hold board meeting
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Tata Steel will hold a meeting of the Board of Directors of the Company on 12 September 2016 to consider and take on record the audited Standalone and unaudited Consolidated financial results for the quarter ended June 30, 2016.

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Noida Toll Bridge Company to hold AGM
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Newtime Infrastructure announced that the th Annual General Meeting(AGM) of the company on 23 September 2016.

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Grovy India announced that the th Annual General Meeting(AGM) of the company on 30 September 2016.

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Birla Shloka Edutech to hold AGM
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KSK Energy Ventures announced that the 16th Annual General Meeting(AGM) of the company on 24 September 2016.

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Moschip Semiconductor Technology to hold AGM
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Moschip Semiconductor Technology announced that the 17th Annual General Meeting(AGM) of the company on 30 September 2016.

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Vijay Solvex to hold AGM
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Vijay Solvex announced that the th Annual General Meeting(AGM) of the company on 30 September 2016.

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Exports to ASEAN stagnate while imports up 33%; question mark on FTA
Sep 02,2016

Indias exports to the Association of Southeast Asian Nations (ASEAN) have stagnated at USD 25 billion since start of the Free Trade Agreement with the 10-nation bloc from January, 2010 while imports rose by over 33 per cent to USD 40 billion, raising a big question mark over the utility of the trade-opening pact with the common market of south east Asia, according to an ASSOCHAM Paper.

Though the global slowdown also seems to have played a role in no growth in exports to the ASEAN, the same did not hold good for imports from the bloc. For the period between 2010-11 and 2015-16, the share of Indias total exports to the South East Asian region also dropped to 9.6 per cent from 10.3 per cent when the FTA came into force.

n++The impact on increased imports may be even more pronounced on conclusion of the current financial year since tariff is to be eliminated on as many more items as 800 under 1252 tariff lines. Tariff would have already been eliminated on 3,200 products under the Normal Track 1,n++ the paper highlighted.

The India-ASEAN overall FTA comprises two parts - goods and services. The agreement on goods was front-loaded, while services pact was back-loaded. The arrangement did not really help India. n++ Given that Indian tariff levels are generally higher than tariffs of ASEAN , India has relatively less to gain from this trade in goods agreement,n++ the chamber President Mr Sunil Kanoria said, pressing for effective access to market of services in ASEAN for India , an area of advantage to India.

In goods, Indias average rate in agriculture is more than 34 per cent against 13 per cent in ASEAN. Likewise, Indias average MFN tariffs for manufacturing goods are more than 10 per cent compared to 7.5 per cent for the opposite side.

The ASEAN-India Investment and Services Agreement came into force on July 1, 2015. Though a preferential deal on services trade with the region should bring significant gains to India, the services sector is protected through strict domestic regulations and various restrictive requirements.

n++Reaching a consensus on liberalizing domestic regulations for services licensing equivalence agreements are more time consuming and complex compared to tariff reduction modalitiesn++.

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Shri Lakshmi Cotsyn to hold AGM
Sep 02,2016

Shri Lakshmi Cotsyn announced that the th Annual General Meeting(AGM) of the company on 30 September 2016.

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